Brokerages Set Kennametal Inc. (KMT) Price Target at $37.50

Brokerages Set Kennametal Inc. (KMT) Price Target at $37.50

Shares of Kennametal Inc. (NYSE:KMT) have earned a consensus rating of “Buy” from the twelve brokerages that are covering the stock. Six equities research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $37.50.

Several research firms have commented on KMT. JPMorgan Chase & Co. cut shares of Kennametal from a “neutral” rating to an “underweight” rating and set a $27.00 target price on the stock. in a research report on Friday, December 9th. Zacks Investment Research raised shares of Kennametal from a “hold” rating to a “buy” rating and set a $36.00 target price on the stock in a research report on Wednesday, December 28th. BMO Capital Markets reissued a “hold” rating and set a $35.00 target price on shares of Kennametal in a research report on Friday, January 13th. Seaport Global Securities raised shares of Kennametal from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $28.00 to $50.00 in a research report on Friday, February 3rd. Finally, KeyCorp raised shares of Kennametal from a “sector weight” rating to an “overweight” rating and set a $40.00 target price on the stock in a research report on Tuesday, January 10th.

Several large investors have recently modified their holdings of KMT. Tyers Asset Management LLC bought a new stake in shares of Kennametal during the fourth quarter valued at about $124,000. First Bank & Trust bought a new stake in shares of Kennametal during the fourth quarter valued at about $140,000. Flinton Capital Management LLC bought a new stake in shares of Kennametal during the fourth quarter valued at about $151,000. LS Investment Advisors LLC raised its stake in shares of Kennametal by 7.3% in the third quarter. LS Investment Advisors LLC now owns 5,233 shares of the company’s stock valued at $152,000 after buying an additional 355 shares during the last quarter. Finally, Quantitative Investment Management LLC bought a new stake in shares of Kennametal during the third quarter valued at about $200,000. Institutional investors own 99.15% of the company’s stock.

Kennametal (NYSE:KMT) opened at 38.81 on Tuesday. Kennametal has a one year low of $20.40 and a one year high of $39.94. The company’s market capitalization is $3.11 billion. The stock’s 50 day moving average is $37.85 and its 200 day moving average is $32.79.

Kennametal (NYSE:KMT) last posted its earnings results on Wednesday, February 1st. The company reported $0.24 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.03. Kennametal had a negative net margin of 3.27% and a positive return on equity of 9.14%. The firm had revenue of $488 million for the quarter, compared to analysts’ expectations of $488.72 million. During the same quarter last year, the firm earned $0.14 EPS. The company’s quarterly revenue was down 6.9% compared to the same quarter last year. On average, analysts anticipate that Kennametal will post $1.39 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 28th. Stockholders of record on Tuesday, February 14th were paid a dividend of $0.20 per share. The ex-dividend date was Friday, February 10th. This represents a $0.80 annualized dividend and a dividend yield of 2.06%. Kennametal’s payout ratio is currently -98.76%.

About Kennametal

Kennametal Inc is a supplier of tooling, engineered components and materials consumed in production processes. The Company operates through two segments: Industrial and Infrastructure. The Industrial segment generally serves customers that operate in industrial end markets, such as transportation, general engineering, aerospace and defense.

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